Governor Little announced the criteria for the $300 million in Idaho Rebound Cash grants today. We’ll provide a brief summary of the most important points but highly recommend you visit the website to learn everything you need to know!
I highly suggest you do two things immediately:
Who is Eligible to Apply?
Any eligible Idaho-domiciled company with an Employer Identification Number (EIN) can apply for a Rebound Idaho Small Business Grant, including:
How Much are They?
Grants of up to $10,000 will be awarded to eligible applicants.
In cases where the eligible entity has received insurance compensation, an SBA-backed Paycheck Protection Program (PPP) loan, or other federal assistance less than $10,000, the grant will be the difference between the award amount and the insurance compensation or loan.
What is a Qualified Business Interruption?
The business or nonprofit must have suffered business interruption due to COVID-19 required closures, which may include but is not limited to:
What can we use the Grant Funds for?
The Rebound Idaho Small Business Grants may be used to reimburse the costs of business interruption caused by required closures which may include:
How do I Apply?
Because they may receive more applications than available grants, applications will be handled in two waves:
How will Awards be Selected?
Grants will be awarded until the total program funding is expended.
The first wave of applicants will open at noon MT on May 11 and close at noon MT on May 15
Who can you Contact for More Information?
The grant application and approval process is intended to be fully automated, allowing grant payments to be issued rapidly. Information about the status of your grant application can be found in your TAP account.
For more information, email ReboundIdahoBusinessGrant@tax.idaho.gov or call 833-492-0068 toll free. High call and email volumes may delay responses.
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